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Hyperliquid

the state of perp trading on Hyperliquid

what 17,104 active perp traders did over the last 30 days: who made money, how much the biggest accounts weigh, and which markets carry the volume. read from Hyperliquid's public data.

dataupdated November 13, 2026 · 30 day window · 48,186 accounts on the leaderboard
30.2%of active traders made money over 30 days
-$1,099pnl of the median trader
81.6%of all profits went to the top 1% of traders
72.7%of the volume came from 1,176 accounts over $1M
$9.02Btraded on perps in the last 24 hours
$8.09Bopen interest across 179 markets
cite as: copy.top research, "the state of perp trading on Hyperliquid", November 13, 2026, copy.top/research/hyperliquid
01

seven traders out of ten lost money

30.2% of the 17,104 active traders ended the 30 days in profit. one in ten made more than $22,762, one in ten lost more than $72,705. winners made $1.28B in total, losers lost $1.14B.

under -$100k: 1,356 traders (7.9%)7.9%under -100k-$100k to -$10k: 3,448 traders (20.2%)20.2%-100k to -10k-$10k to -$1k: 3,851 traders (22.5%)22.5%-10k to -1k-$1k to $0: 2,162 traders (12.6%)12.6%-1k to 0$0 to $1k: 2,298 traders (13.4%)13.4%0 to 1k$1k to $10k: 1,686 traders (9.9%)9.9%1k to 10k$10k to $100k: 1,568 traders (9.2%)9.2%10k to 100kover $100k: 735 traders (4.3%)4.3%over 100k
lost moneymade moneyeach bar: share of traders in that pnl range
02

a handful of accounts take most of the profit

the top 1% of traders took 81.6% of all profits, and the top 10% took 98.7%. the other 90% of traders share 1.3% of the gains.

top 1% of traders: 81.6%next 9%: 17.1%the other 90%: 1.3%
03

bigger accounts win more often

the share of traders in profit rises with the size of the account. small accounts are the most likely to lose.

share of traders who made money, by account value

under $1k3,688 traders
15.7%
$1k to $10k2,488 traders
21.5%
$10k to $100k4,069 traders
32.2%
$100k to $1M5,683 traders
38.4%
over $1M1,176 traders
47.8%

share of traders who made money, by 30 day volume

$10k to $100k2,588 traders
26.1%
$100k to $1M5,431 traders
29.8%
$1M to $10M5,999 traders
31.5%
$10M to $100M2,641 traders
31.2%
over $100M445 traders
37.3%
04

one good month is not a track record

48.4% of active traders are in profit over the whole life of their account. among the traders who won this month, 72.4% are also in profit all time: the others had a good month on top of a losing history. before copying a perp trader, read the long window, not the last one.

this month's winners who are also up all time
72.4%
all active traders who are up all time
48.4%
05

the top of the month

the ten accounts with the highest pnl over 30 days. Hyperliquid accounts are addresses; a few chose a display name.

1
0x5b5d…c060account $122.8M · volume $562.6M
$144.1M
2
0xb83d…6e36account $148.9M · volume $643.9M
$114.5M
3
0x87f9…e2cfaccount $124.1M · volume $24.15B
$34.4M
4
BobbyBigSizeaccount $24.1M · volume $2.39B
$31.3M
5
0xb695…a92daccount $33.4M · volume $115.7M
$31.2M
6
0x45d2…4029account $59.0M · volume $1.4M
$29.5M
7
0xdf95…7d72account $62.9M · volume $235.2M
$26.9M
8
0xecb6…2b00account $88.8M · volume $14.11B
$24.2M
9
0xf5d8…ad53account $93.3M · volume $47.05B
$24.2M
10
0x0242…ffa1account $28.9M · volume $1.36B
$23.2M
06

where the volume is

the 12 most traded perp markets over the last 24 hours. the top three carry 84.5% of all volume.

B
BTC24h $5.48B · open interest $2.70B
-4.5%
E
ETH24h $1.59B · open interest $1.44B
-2.5%
H
HYPE24h $554.3M · open interest $1.61B
+6.0%
Z
ZEC24h $511.1M · open interest $385.0M
+1.6%
S
SOL24h $281.2M · open interest $325.0M
-0.6%
X
XMR24h $86.6M · open interest $121.0M
-1.9%
N
NEAR24h $69.2M · open interest $139.0M
+4.7%
X
XRP24h $69.0M · open interest $91.2M
-1.3%
P
PUMP24h $28.5M · open interest $54.5M
+4.5%
k
kPEPE24h $27.9M · open interest $48.9M
+4.1%
L
LIT24h $25.1M · open interest $113.3M
+6.4%
E
ENA24h $16.2M · open interest $48.0M
-0.3%
07

where funding is the most extreme

the markets where holding a position costs or pays the most right now, among those with more than $5M of open interest. a positive rate means longs pay shorts.

U
USELESS92% a year · open interest $11.4M
+0.0105% / h
J
JUP-50% a year · open interest $7.7M
-0.0057% / h
X
XMR-26% a year · open interest $121.0M
-0.0030% / h
T
TRUMP-16% a year · open interest $8.1M
-0.0018% / h
B
BTC11% a year · open interest $2.70B
+0.0013% / h
B
BNB11% a year · open interest $33.9M
+0.0013% / h
A
ARB11% a year · open interest $14.6M
+0.0013% / h
S
SUI11% a year · open interest $23.3M
+0.0013% / h

method

copy traders with a public track record

pick a named trader, read their numbers, set your size. their buys and sells are copied from your own wallet.

see the leaderboard